Georgian TBC bank, EBRD sign credit agreement

Business Materials 5 October 2012 15:22 (UTC +04:00)

Georgia, Tbilisi, Oct. 5 /Trend N.Kirtskhalia/

Georgian TBC Bank and the European Bank of Reconstruction and Development (EBRD) have completed work on a credit agreement to the amount of $10 million for the Caucasus Energy Security Programme.

The bank will finance projects of small and medium sized businesses as well as corporate clients in the field of energy security and renewable energy using this resource.

'The Caucasus energy security programme was established for supporting financial institutions in our region to provide loans for investments planned by the private sector for energy effectiveness and rational energy consumption. The TBC Bank was one of the first Georgian banks to receive a similar resource to the sum of $10 million in 2007', the bank report noted.